65 home-grown franchise brands make global forays

PUTRAJAYA: The country’s franchise industry has shown an impressive growth with 65 home-grown brands succeeded in making inroad in 66 countries.

Deputy Domestic Trade, Cooperatives and Consumerism Minister Datuk Henry Sum Agong attributed this to relentless efforts by industry players, as well as the outcome of the annual Franchise International Malaysia (FIM) held by the ministry together with the Malaysian Franchise Association (MFA) since 1993.

“As the largest annual franchise event in Southeast Asia, FIM provides the best platform to support the government’s efforts in producing more franchise entrepreneurs,” he told a press conference after the pre-launch of the FIM 2018 here yesterday.

Also present was MFA President Datuk Radzali Hassan.

Henry said so far 851 local franchise brands had been registered with the ministry.

“FIM also provides local franchise entrepreneurs with the opportunity to learn from and collaborate with international franchise entrepreneurs, allowing them to exchange knowledge, experience and ideas to foster the development of the local franchise industry,” he said.

He also added that the rapid growth of the local franchise industry enabled it to contribute RM27.89 billion to gross domestic product last year. - Bernama